Silver Prices Drop as Dollar Index Hits Weekly High, Gold Stays Near Threshold

Mumbai, September 11 – The commodity market opened on a bearish note for both gold and silver. The MCX gold contract for October 5, 2026 listed at ₹1,50,770 per 10 grams, marking a 1.03 % dip from the prior close of ₹1,52,341. The price later softened to ₹1,51,474 after a brief rally, staying within a narrow band of ₹1,50,695 to ₹1,51,483.

Silver, traded under the December 4, 2026 contract, fell to ₹2,31,569 per kilogram, down 1.08 % from the previous close of ₹2,34,099. Its intraday swing ranged from ₹2,30,270 to ₹2,32,096.

On the global stage, COMEX quoted gold at $4,350 per ounce (‑1.29 %) and silver at $63.63 per ounce (‑1.99 %). The decline is widely credited to a stronger dollar, driven by renewed Middle‑East tensions. The dollar index surged to 99.12, its highest reading in seven days.

Investors are now focused on the U.S. inflation statistics that will be released this evening. The data is expected to dictate short‑term momentum for gold and could reshape risk appetite across markets.